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What is the pension expense worksheet for Company A

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Reference no: EM132465352

Problem - Company A has the following information for plan year 2017.

Plan assets at 1/1/17 200,000

Projected Benefit Obligation 1/1/17 200,000

Annual Service Costs for 2017 15000

Settlement Rate 10%

Actual Return on Plan Assets for 2017 18,000

Funding Contributions for 2017 12,000

Benefits Paid out During the year for 2017 5,000

Required -

(a) What is the pension expense worksheet for Company A?

(b) Does the company have an asset or liability as a result of its defined benefit contribution plan at the end of 2017?

Reference no: EM132465352

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